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"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10
Wednesday, June 13, 2012
Au-SPX ratio updated
Charlie Munger scoffed at gold and pumped stocks after the Handle to the Cup had registered point 5. 'Buy US stocks, sell gold!' was the advice of certain trend followers who like to look smart in the media. Meanwhile, the relic simply continues to consolidate above support. Which way will it go from here?
Risk vs. reward is not in favor of Charlie and his sycophantic herd.